Nokian Tyres: ‘strong volume & profit growth’ in H1 2021
The difference a year can make. Almost 12 months to the day after reporting an operating loss of 13.7 million euros for the first half of 2020, Nokian Tyres has announced achieving an operating profit of 126.1 million in the six months to 30 June 2021 with an earnings per share of 0.72 euros. It achieved this result on the back of net sales that were up 37.7 per cent year-on-year to 758.0 million euros. Nokian Tyres notes that when looking at comparable currencies, net sales increased by 41.5 per cent.
Trelleborg divesting Czech technical rubber business
Trelleborg Group has signed an agreement to divest a technical rubber products operation. It is selling the company, which has its main business located in Nachod, Czech Republic, to Kaprain, a Czech investment group.
Continental to use recycled PET bottles in tyre production
We’re used to encountering yarn spun from recycled polyethylene terephthalate (PET) bottles in clothing and soft furnishings, but from next year motorists will be able to buy Continental tyres containing this material. Continental will use PET-sourced polyester yarns in the construction of tyre casings and says these can “completely replace” conventional polyester. It will present a concept tyre built upon a PET polyester casing at the IAA Mobility show in Munich this September.
Bridgestone boosts fleet portfolio with Azuga acquisition
Bridgestone Americas (Bridgestone) has reached an agreement with tech-focused private equity firm Sumeru Equity Partners, connected vehicle specialist Danlaw and other shareholders to purchase Azuga Holdings, Inc. (Azuga) and the Azuga fleet management platform for US$391 million. Bridgestone says the acquisition will accelerate its efforts to develop and deploy sustainable mobility solutions as a “central pillar of the company’s advanced mobility strategy.”
Prometeon expands warehouse, adds to Pirelli IF agri range
Prometeon Tyre Group shares that it recently extended storage capacity at its central warehouse in Germany to accommodate additional stocks of agricultural tyres. The tyre maker says it expanded warehouse operations in order to speed up delivery times throughout the region as well as to offer better its trading partners a higher level of service, however, it that this extra capacity at the Dieburg site, which has been available since 1 July, coincides with growth in its Pirelli IF agricultural tyre range.
Kenda Tires Europe appoints reifen.com as distribution partner
Kenda Tires Europe will distribute its full passenger car tyre portfolio across Germany and Austria via reifen.com GmbH. The agreement took effect on 1 July 2021 and means customers can now purchase Kenda’s complete passenger car tyre portfolio from 37 reifen.com customer outlets across the region as well as from its online shop.
Hexpol completes 48 million euro Unica acquisition
Hexpol completed the 48 million euro acquisition of 100 per cent of Unión de Industrias C.A., S.A. (Unica) from Espiga Capital, a Spanish based Private Equity firm on 7 July 2021. Unicas turnover in 2020 amounted to 40 million euros, with a profitability “below Hexpol Group”, according to the business’s new owner. Unica will be consolidated into Hexpol from 1 July.
Back in 2021: Firestone sponsoring All Points East
Firestone returns to the All Points East festival as sponsor for a third time over the August Bank Holiday weekend. The event returns to London’s Victoria Park after a year’s absence, and the Firestone Stage will be ready to entertain.
The Michelin Group has shared details about what chief executive officer Florent Menegaux calls “a very good first half.” In an environment shaped by an enduring health crisis, a robust market recovery was tempered by major disruptions in the global supply chain. In this context, Michelin increased tyre volumes by 22.8 per cent, sales 19.6 per cent year-on-year, and achieved €1,421 million in segment operating income for the period.
Michelin facilitating shift to zero emissions with Watèa
In order to support its corporate customers in transitioning to zero-emission mobility, at the end of last month Michelin launched ‘Watèa by Michelin’. It is initially rolling out Watèa in major cities across France.
Jinyu: Further international tyre factories on the agenda
With an increasing number of countries and regional groupings implementing anti-dumping and countervailing policies against Chinese-produced, Chinese tyremakers are describing the situation as “not optimistic”. However, facing the harsh international trade environment head-on, Jinyu Tire reports that it has a number of solutions for the current market problems.
It’s business as usual for Kumho Tyre and Tottenham Hotspur FC. Five years after signing a deal that gave the club a new Official Tyre Partner, the two protagonists have announced a long-term extension to the arrangement.
After a turbulent few years, tyre industry supplier, Nynas AB has changed hands again signing a binding agreement with an investment vehicle managed by Davidson Kempner Capital Management LP for the acquisition of the entire equity stake (49.9%) in Nynas from Bitumina Industries Limited, making it the largest individual shareholder of Nynas.
Trelleborg – Higher Q2 2021 EBIT despite rising raw material costs
Trelleborg Wheel Systems enjoyed strong year-on-year organic sales growth in the three months to 30 June, reports parent company Trelleborg AB. The division noted marked growth in sales of its tyres for agricultural machinery in most markets. Sales of tyres for materials handling and construction vehicles were also significantly higher than in both the preceding quarter and the same period of last year.